MASTER Assignment
A PRACTICAL APPROACH TO ASSESSING CRITICAL CONTINUITY PROPERTIES OF ASSETS IN BUSINESS & IT CONTINUITY MANAGEMENT
Type : Master M-BIT
Period: Sep, 2021 - Apr, 2022
Student : Claßen, P.R. (Philipp, Student M-BIT)
Date Final project: Apr 26, 2022
Supervisors:
Abstract:
In modern days, companies rely heavily on IT systems to support their business. The importance of and dependency on these systems makes it crucial for organisations to operate effectively without unreasonable interruptions. However, it is impossible to mitigate all disasters, and it becomes the question of not if but when a disaster will happen. This requires that the organisation clearly understands the impact of a disruption on their organisation and has continuity plans in place to mitigate the effects as fast as possible. To support this assessment, this design science study presents a list of assessment criteria to better quantify the impact of disruptions in an organisation, namely: financial impact, operational impact, third-party impact, regulatory impact and reputational impact. Using two demonstrations to illustrate how this method in combination with the criteria can be applied and what information can be gained from it. An evaluation with relevant stakeholders indicated that the additional criteria have great potential in quantifying the impact of disruptions and allowing for better investment decisions into continuity management.